Excellent news. Zacks even left the price target at $2.6 ... I suppose that's over a 12 months period ... Recently, Needham, Wedbush, Cannacord recently downgrade ELON to $3, but to think positive that's even higher than Zacks... so, it's good news.
I noticed you are a BABlA follower, so I will remain very careful in the choice of my words, but the upgrade was from NEUTRAL to OUTPERFORM and NOT to STRONG BUY.
"... Echelon Corp. (NASDAQ:ELON) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a $2.60 target price on the stock. Zacks‘ price target would indicate a potential upside of 17.65% from the stock’s previous close. ..."
Anyways, I suppose many positive thinkers would consider $2.6 by Aug 2014 a very encouraging sign ... my price target on ELON is the $3's by FY'14. So, we are in sync.